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Italy Tourism Industry Is Counting on Tourists from BRIC Nations, Reveals New Report(ReleaseWire Via Acquire Media NewsEdge) Market Research Reports, Inc. has announced the addition of “Travel and Tourism in Italy to 2018” research report to their offering.Lewes, DE -- (ReleaseWire) -- 09/30/2014 -- The travel and tourism sector in Italy suffered from a prolonged phase of economic instability and lower levels of consumer confidence. As a result, the overall sector contracted significantly during the review period in terms of tourist flow, while tourism expenditure registered only a marginal growth. The decline was largely due to the economic crisis, high unemployment and increased taxes. The report provides detailed market analysis, information and insights, including: - Historic and forecast tourist volumes covering the entire Italian travel and tourism sector - Detailed analysis of tourist spending patterns in Italy for various categories in the travel and tourism sector, such as accommodation, sightseeing and entertainment, foodservice, transport, retail, travel intermediaries and others - Detailed market classification across each category, with analysis using similar metrics - Detailed analysis of the airline, hotel, car rental and travel intermediaries industries Scope: This report provides an extensive analysis related to the tourism demands and flows in Italy: - It details historical values for the Italian tourism sector for 2009–2013, along with forecast figures for 2014–2018 - It provides comprehensive analysis of travel and tourism demand factors, with values for both the 2009–2013 review period and the 2014–2018 forecast period - The report provides a detailed analysis and forecast of domestic, inbound and outbound tourist flows in Italy. - It provides comprehensive analysis of the trends in the airline, hotel, car rental and travel intermediaries industries, with values for both the 2009–2013 review period and the 2014–2018 forecast period. Reasons to Buy: - Take strategic business decisions using historic and forecast market data related to the Italian travel and tourism sector. - Understand the demand-side dynamics within the Italian travel and tourism sector, along with key market trends and growth opportunities. Key Highlights: - Italy’s economy has struggled since 2008, and entered into a third recessionary phase in August 2014, after negative growth in the second quarter of 2014. The contracting economy makes it more difficult for Italy to reduce its heavy public debt, which is likely to reach 135% of GDP in 2014. Projected weak economic growth will continue to have adverse affects on the travel and tourism sector over the forecast period. However, direct tourism employment as a percentage of total employment, which has been rising since 2011, is expected to continue to do so over the forecast period. The overall unemployment rate in Italy stood at 12.0% in 2013, while youth unemployment was more than 35%. - Italy has recorded a rise in the number of visitors from Brazil, Russia, India and China, the BRIC countries. During the review period, tourists from China, Russia and Brazil increased at CAGRs of 15.2%, 15.9% and 5.6% respectively. The Italian government and tourism promotion agencies have been making efforts to attract tourists from these countries. For instance, to attract tourists from China, in 2014 Italy announced a reduction in the processing time for a tourist visa from five days to 36 hours. Italy opened a national tourism board office in Mumbai, India, in 2013. - Domestic tourism in Italy is a large and matured market. The total number of domestic trips fell from 114.1 million in 2009 to 76.7 million in 2013, at a review-period CAGR of -9.46%. This was largely due to the economic crisis, high unemployment, increased taxes and rising fuel costs. - Outbound tourism from Italy decreased from 29.1 million travelers in 2009 to 28.9 million in 2013, representative of a review-period CAGR of -0.17%. The decline was due to the country’s economic problems which had a negative impact on residents’ annual disposable incomes. Household disposable income fell by -3.0% in 2009, -0.8% in 2010 and 2011, -4.7% in 2012. However, outbound tourist expenditure recorded a marginal increase at a CAGR of 1.15% from EUR29.3 billion (US$40.7 billion) in 2009 to EUR30.7 billion (US$40.7 billion) in 2013. - Since its inception in 1947, Italy’s flagship airline, Alitalia, has hardly made a profit, and the airline almost disappeared after the financial crisis in 2008. High-speed trains on profitable routes along with LCCs affected the company’s performance. On the verge of bankruptcy, Alitalia signed a deal with Gulf carrier Etihad in August 2014, with Etihad acquiring a 49% stake in Alitalia for around EUR1.2 billion (US$1.6 billion). - The Italian government has been willing to offer leases on abandoned buildings and monuments for a period of 50 years, which can be extended by 25 years. The government hopes to attract leading hoteliers from around the world to restore and renovate old historic buildings and monuments, and develop them into luxury accommodation. For example, the Villa Tolomei in Florence was reopened as a five-star resort in May 2013 by Landmark Hotels. Other properties on offer include the Bourbon-built Santo Stefano prison in Ventotene, a historic jail in Procida, and a seafront castle in Gaeta. These new hotels will be advertised at Expo 2015 in Milan in October 2015. - Car rental companies in Italy are facing setbacks due to the high price of petrol and diesel. As of 2014, Italy had the fifth-highest petrol prices and the third-highest diesel prices in Europe. According to CGIA Mestre, the Italian association of sole traders and small businesses, high taxation is the main reason behind the high fuel prices. Tax on diesel in Italy was 55.4% in 2013, 59.1% for petrol. - Increasing internet penetration has resulted in strong growth of online travel bookings. According to the World Bank, internet penetration rose from 48.8% of the population in 2009 to 58.5% in 2013. With an increasing number of Italians booking travel online, traditional in-store intermediaries are also increasing their online presence and capability to meet demand. Spanning over 131 pages, 133 Tables and 80 Figures “Travel and Tourism in Italy to 2018” report covering Executive Summary, The Travel and Tourism Sector In Context, Country Fact Sheet, Tourism Flows, Travel Intermediaries, Tourism Board Profile, Airport Profiles, Company Profiles, Market Data Analysis, Appendix. This report Covered 20 Companies - Alitalia – Compagnia Aerea Italiana SpA, Ryanair Italy, easyJet Italy, Air France Italy, Wizz Air Italy, Best Western Italia ScpA, Dimore d’Epoca, InterContinental Hotels Group Italy, Accor Hospitality Italia SRL, NH Hoteles Italy, Europcar Italia SpA, Avis Autonoleggio SpA, Budget Autonoleggio Italy, Hertz Italiana SpA, Sixt Italy, Welcome Travel Group SpA, Expedia Italy Srl, TUI Travel Italy, Uvet American Express Corporate Travel SpA, Bluvacanze SpA. Know more about this report http://www.marketresearchreports.com/timetric/travel-and-tourism-italy-2018 Find all Travel and Leisure Reports http://www.marketresearchreports.com/travel-leisure About Market Research Reports, Inc. Market Research Reports, Inc. is the world's leading source for market research reports and market data. We provide you with the latest market research reports on global markets, key industries, leading companies, new products and latest industry analysis & trends. For regular industry updates subscribe to our newsletter at: http://www.marketresearchreports.com/subscribe-to-newsletterFor more information on this press release visit: http://www.releasewire.com/press-releases/italy-tourism-industry-is-counting-on-tourists-from-bric-nations-reveals-new-report-550299.htmMedia Relations ContactAmitava SenVP - Sales & MarketingMarket Research Reports, IncTelephone: 302-703-7787Email: Click to Email Amitava SenWeb: http://www.marketresearchreports.com/timetric/travel-and-tourism-italy-2018 |